Asked by Hadar Orkibi, Memphis, TN • Mon May 19, 2008
as part of my research with regard to inveting in theUS, I have spoken to a property management company and been advice that it is not acceptable in the States to obtain a Bond or Cheque from a tenant as for damage or rent err security.
There is quite a different how things work in the States to NZ.
In NZ have the DPH Department of Building abs Housing that provides Tenancy tribunal and mediation if needed for admin fee of $200nz.
The tenant has to pay a bond of up to 4 weeks rent as a security, this bond held by the DBH and refunded at the end of the tenancy if there are no damages or rent errs.
I would appreciate any comment regarding this, and would keen to hear if any one of you is obtaining any security/Bond from tenant?
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